A prior art archery arrow with cutting blades serving as fletchings shown and described in my U.S. Pat. No. 4,958,617 includes a steel front portion with a pointed tip that screws onto an aluminum rear section having slots for the blades and a rear end for attaching a nock. Another prior art archery arrow with cutting blades serving as fletchings shown and described in my U.S. Pat. No. 5,119,797 includes a pointed, metal tip with a stem that fits into a socket of a nylon or plastic ferrule where the ferrule together with the blades is formed by injection molding. Both of the foregoing prior archery arrows use a two-piece construction rendering them more difficult and costly to make. Moreover, both of the prior art archery arrows have metal front portions that require that the metal barrel of the archery bow include nylon strips to avoid metal-on-metal contact between the metal stem of the arrow tip and the metal barrel when launched from the archery bow. Accordingly, there is a need for an improved and less costly archery arrow with cutting blades serving as the fletchings that can be injection molded as one-piece using a synthetic material such as plastic or glass filled nylon and that launched from a crossbow with a metal barrel or a handheld archery bow with a metal barrel.